Conrad Energy, BNP Paribas sign UK solar PPA
- Corporate power purchase agreement for energy from Larport will certainly assist decarbonise the bank's operations
Conrad Energy and also BNP Paribas have signed a 15-year power acquisition agreement (PPA) for output from Conrad Energy's Larport solar farm in Hertfordshire.
The corporate PPA for energy from Larport is a key step in decarbonising the bank's UK operations as part of its journey to net-zero banking.
Conrad Energy is one of the largest flexible energy producers in Great Britain, enabling a growing number of renewable energy to supply the UK's nationwide grid.
"We have been excited at Conrad Energy about the potential for the Larport Solar Farm given that 2019.
"To protect this type of agreement with a partner as dedicated to the transition to net zero as BNP Paribas supports our belief that the upcoming milestones for durations of zero carbon electrical energy are possible." claimed Steven Hardman, Conrad Energy's CEO.
A founding member of the Net-Zero Banking Alliance, introduced by the UN Environment Programme Finance Initiative with the objective of mobilising the economic industry to support the transition to even more lasting economic climates, BNP Paribas, has actually currently made a significant pivot in the direction of financing low-carbon energy.
At the end of September 2022, funding of low-carbon energy manufacturing was already almost 20% higher than financing for the production of fossil fuels and also by 2030 BNP Paribas will certainly have completed transitioning over 80% of its energy funding activities to low-carbon modern technologies.